Bank of England urged to slow or halt bond-selling to slash UK borrowing costs

Economists urge John Healey to press Bank to change policy that is costing the exchequer billions of pounds

Economists have urged the chancellor, John Healey, to press the Bank of England to slow down its bond-selling programme that has already cost the exchequer billions of pounds.

The Bank’s monetary policy committee (MPC) meets this week to not only decide the level of interest rates but also whether they should freeze or slow the sale of government bonds, known as gilts, bought as part of the rescue operation after the 2008 banking crash.